Question No 26 Chapter No 15

Question No 26 Chapter No 15

Dishonour of Bill

26. Sunny drew a 4 months bill on Dharam for Rs 15,000 on 1st March 2017 for goods sold. The bill was duly accepted by Dharam and returned to Bhat. On the due date, the bill is dishonoured by Dharam
Record the entries in the books of both the parties in the following cases when Rs 200 noting charges are paid in each case.
(a)The bill was retained by Bhat till Maturity
(b)The bill was discounted from the State bank for India for Rs 14,400
(c)The bill was endorsed to Hema
(d)The bill was sent to a bank collection

The solution of Question No 26 Chapter No 15: –

In the books of Sunny
Date  Particulars
L.F.DebitCredit
2018     
Mar.1Bill Receivable A/cDr. 15,000 
 To Dharma A/c   15,000
 (Being bill drawn for 4 months)    
      
(a)Dharma A/cDr. 15,000 
 To Bill Receivable A/c   15,000
 (Being retained bill dishonoured )    
      
(b)Bank A/cDr. 14,400 
 Discount A/cDr. 600 
 To Bill Receivable A/c   15,000
 (Being bill discounted from the bank)    
      
 Dharma A/cDr. 15,000 
 To Bill Receivable A/c   15,000
 (Being discounted bill dishonoured )    
      
(c)Hema A/cDr. 15,000 
 To Bill Receivable A/c   15,000
 (Being bill endorsed)    
      
 Dharma A/cDr. 15,000 
 To Bill Receivable A/c   15,000
 (Being endorsed bill dishonoured )    
      
(d)Bank for collection A/cDr. 15,000 
 To Bill Receivable A/c   15,000
 (Being bill discounted from the bank)    
      
 Dharam A/cDr. 15,200 
 To Bill Receivable A/c   15,000
 To Nothing Charges A/c   200
 (Being discounted bill dishonoured )    
     

 

In the books of Dharam
Date  Particulars
L.F.DebitCredit
2018     
Jan.1Sunny A/cDr. 15,000 
 To Bill Payable A/c   15,000
 (Being bill payable for 4 months.)    
      
(a)Bill Payable A/cDr. 15,000 
 To Sunny A/c   15,000
 (Being retained bill dishonoured)    
      
(b)Bill Payable A/cDr. 15,000 
 To Sunny A/c   15,000
 (Being discounted bill dishonoured)    
      
(c)Bill Payable A/cDr. 15,000 
 To Sunny A/c   15,000
 (Being endorsed bill dishonoured)    
      
(d)Bill Payable A/cDr. 15,000 
 Nothing Charges A/cDr. 200 
 To Sunny A/c   15,000
 (Being bill sent to the bank for collection dishonoured)    
     

 

Bills Receivable Book | Subsidiary Books | Examples

 

Bills Payable Book | Subsidiary Books | Examples

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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